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Print - 2020-01-01
African countries to benefit from PU clean cotton technology
Cotton & Textile

African countries to benefit from PU clean cotton technology

Punjab University has signed an agreement with an African company for the seed business and technical cooperation on the use of Centre of Excellence in Molecular Biology (CEMB)-patented transgenic for development, seed production and marketing of transgen
Published 01 Jan, 2020 12:00am
UAE Crown Prince may arrive tomorrow

UAE Crown Prince may arrive tomorrow

United Arab Emirates (UAE) Crown Prince Mohammed bin Zayed Al Nahyan is likely to arrive here Thursday, diplomatic sources said. The sources said that the visiting dignitary will meet top leadership including President, Prime Minister and the army chief t
Published 01 Jan, 2020 12:00am
FBR collects Rs 2.08 trillion in H1
Taxes

FBR collects Rs 2.08 trillion in H1

Federal Board of Revenue (FBR) Chairman Shabbar Zaidi Tuesday said the FBR has collected Rs 2,080 billion for the half year ended December 31, 2019. This is higher by 16 percent over last year for the same period.
Published 01 Jan, 2020 12:00am
Macroeconomy: The way forward

Macroeconomy: The way forward

The current macro economic situation needs to be analysed in its historical context. From 1950 to 1990 Pakistan was among the fastest growing economies in the developing world. This achievement was remarkable because Pakistan had inherited an economy with
Published 01 Jan, 2020 12:00am
FATF challenge: SBP speeds up action plan

FATF challenge: SBP speeds up action plan

In order to further align Anti Money Laundering (AML) and Combating of Financing of Terrorism (CFT) Regulations with the Financial Action Task Force (FATF) recommendations, the State Bank of Pakistan (SBP) has amended various regulations for financial ins
Published 01 Jan, 2020 12:00am
Government touts 'pro-business' NAB law

Government touts 'pro-business' NAB law

Special Assistant to Prime Minister (SAPM) on Information and Broadcasting, Dr Firdous Ashiq Awan Tuesday said that the government will not bypass the due process to implement the newly promulgated National Accountability Bureau (Amendment) Ordinance 2019
Published 01 Jan, 2020 12:00am
Petrol price up by Rs 2.61/litre

Petrol price up by Rs 2.61/litre

The government on Tuesday increased the price of petrol by Rs 2.61 per litre and High Speed Diesel (HSD) by Rs 2.25 per litre High Speed Diesel (HSD) for the month of January, 2020.
Published 01 Jan, 2020 12:00am
PIA board restrained from carrying out functions

PIA board restrained from carrying out functions

Sindh High Court (SHC) has restrained the Board of Pakistan International Airlines (PIA) from carrying out any functions while hearing a petition, seeking to declare the appointment of Air Marshall Arshad Mehmood Malik as Chief Executive Officer (CEP) of
Published 01 Jan, 2020 12:00am
'Go to Pakistan'
Letters

'Go to Pakistan'

Well, the Sangh Parivar was going to keep its Hindu rashtra project a secret, but a police official has clearly revealed or exposed its designs. In other words, the cat is out of the bag now. According to media reports, a senior police officer in India's
Published 01 Jan, 2020 12:00am
While the sun shines over our banking horizon
Articles

While the sun shines over our banking horizon

Amid much being pondered from customer care to customer nightmare in our banking sector, a ray of hope envisions and emanates towards customer-friendly and mutually rewarding bank reforms for a change. It is basically a question of slow and gradual transf
Published 01 Jan, 2020 12:00am
Sense and sensibility
Articles

Sense and sensibility

Events of the past few weeks are of great legal and political importance. In an unprecedented trial former president General Musharraf was convicted in treason trial by a special court. Similarly, the Supreme Court intervened in a hitherto prohibited of d
Updated 01 Jan, 2020 08:17am
Tabdili? What Tabdili?
Articles

Tabdili? What Tabdili?

The Prime Minister is the only change that seems to have happened to Pakistan since the advent of the PTI government which came in riding Imran Khan's catchy slogan of 'Tabdili'. Everything else, from governance to economy, politics, foreign affairs, soci
Published 01 Jan, 2020 12:00am
The matter of ECP appointments

The matter of ECP appointments

Delaying important decisions and making them difficult, hence controversial, is becoming the hallmark of the incumbent government. A case in point is appointments to the Election Commission of Pakistan (ECP). The scheduled meeting of the parliamentary bod
Updated 02 Jan, 2020 06:44am
2019: A tough year it was indeed

2019: A tough year it was indeed

Prime Minister Imran Khan repeated his narrative yet again while addressing an 87-member delegation from Balochistan participating in a national security workshop: the country has achieved economic stability after a staff level agreement was reached with
Updated 02 Jan, 2020 07:01am
Sindh Rangers arrest 14 suspects in Karachi

Sindh Rangers arrest 14 suspects in Karachi

Sindh Rangers on Tuesday claimed to have arrested 14 suspects during raids conducted at different areas of Karachi. The raids were conducted in metropolis' areas of Bahadurabad, Paposh and other areas by the paramilitary forces. According to the Sindh Ran
Published 01 Jan, 2020 12:00am
Gold price up

Gold price up

Gold posted a mammoth increase of Rs 20,600 per tola to Rs 88,400 during 2019 comparing to its value of 67,800 per tola in 2018 on the local market, traders said on the eve of 2020.
Published 01 Jan, 2020 12:00am
NA panel approves CPEC Authority Bill

NA panel approves CPEC Authority Bill

The National Assembly Standing Committee on Planning, Development and Reform has approved the "China-Pakistan Economic Corridor Authority (CPEC) Bill, 2019."
Published 01 Jan, 2020 12:00am
Zubair blames PTI government for ruining economy

Zubair blames PTI government for ruining economy

Pakistan Muslim League-Nawaz (PML-N) leader and former Sindh Governor Mohammad Zubair has said that economic policies of the government have ruined the country's economy. Addressing a press conference here on Tuesday, he said that high inflation and unemp
Published 01 Jan, 2020 12:00am
Sugarcane crushing crisis deepens in Punjab

Sugarcane crushing crisis deepens in Punjab

The sugarcane crushing crisis in Punjab is becoming deeper as 26 sugar mills which halted crushing due to higher price of sugarcane and lower rate of sugar have shown inability to restart crushing, well informed sources told Business Recorder. "The
Published 01 Jan, 2020 12:00am
IHC sets 15 days deadline for appointing ECP's CEC, two members

IHC sets 15 days deadline for appointing ECP's CEC, two members

The Islamabad High Court (IHC) on Tuesday granted 15 more days for the appointment of chief election commissioner (CEC) and two members of Election Commission of Pakistan (ECP). A single bench of IHC comprising Chief Justice Athar Minallah heard three pet
Published 01 Jan, 2020 12:00am
MCC Gwadar collects Rs 11 billion in 1HFY19-20
Taxes

MCC Gwadar collects Rs 11 billion in 1HFY19-20

The Model Customs Collectorate (MCC) Gwadar collected Rs 11 billion during the first half of FY19-20. MCC Gwadar collected customs duty worth Rs 5.80 billion during the first half.
Published 01 Jan, 2020 12:00am
Masood calls for evolve existing labour laws

Masood calls for evolve existing labour laws

Former Federal Finance Secretary Dr Waqar Masood has underscored the need for redefining the existing labour laws in perspective of global market economy. In his keynote speech at a conference here on Tuesday, Masood said that major challenge for the work
Published 01 Jan, 2020 12:00am
Sparc holds consultation

Sparc holds consultation

The Society for the Protection of Rights of the Child (Sparc) in consultation with the Sindh Prisons Department held a consultation on the Economic Rehabilitation and Reintegration Support to Young People in Prisons on Tuesday.
Published 01 Jan, 2020 12:00am
FPCCI polls results announced

FPCCI polls results announced

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has officially announced annual election result held on December 27, 2019. According to official results Businessmen Panel (BMP) Group candidate Anjum Nisar got 186 votes and declared electe
Published 01 Jan, 2020 12:00am
SBP director
Money & Banking

SBP director

Dr Mian Farooq Haq has assumed the charge of Director, Infrastructure, Housing & SME Finance Department (IH&SMEFD), State Bank of Pakistan, with effect from December 27, 2019.
Published 01 Jan, 2020 12:00am
Karachi to experience gusty weather in next 24 hours

Karachi to experience gusty weather in next 24 hours

The city's weather is expected to turn gusty in the next 24 hours with a minimum temperature ranging up to 9 degrees Celsius, the Met Office forecast on Tuesday. It said that the metropolis weather is likely to remain cold and dry as well on Wednesday. Mi
Published 01 Jan, 2020 12:00am
Azhar Abbas elected AEMEND president

Azhar Abbas elected AEMEND president

Senior professionals from broadcast media met in Islamabad on Saturday and formed a 16-member executive Committee to run affairs of the newly-established Association of Electronic Media Editors and News Directors (AEMEND).
Published 01 Jan, 2020 12:00am
Pak-China FTA to be fully operational from today

Pak-China FTA to be fully operational from today

The China Pakistan Free Trade Agreement (CPFTA) will be fully operational from January 1, 2020 (today). Both countries had started negotiations on FTA-II during PML(N) government as the then Commerce Minister Engineer Khurram Dastgir Khan maintained that
Published 01 Jan, 2020 12:00am
'Pakistan's amusement industry thrives'

'Pakistan's amusement industry thrives'

The year 2019 was a successful year for the amusement industry in Pakistan as the industry saw a huge increase in the development of multiple amusement activities. Inamullah Abdullah, COO of A A Joyland (Pvt) Ltd says that the industry with Rs20 billion a
Published 01 Jan, 2020 12:00am
PTA plans to procure automated QoS monitoring tool
Telecommunication

PTA plans to procure automated QoS monitoring tool

Pakistan Telecommunication Authority (PTA) has planned to procure automated quality of service (QoS) monitoring and benchmarking tool which would also have support measuring audio and video services, including live streaming as well as social media, inclu
Updated 01 Jan, 2020 11:04pm
Experts underscore need for investment in agriculture research

Experts underscore need for investment in agriculture research

As many as 25 researchers from Pakistan Agriculture Research Islamabad, PMAS, Arid Agriculture University, Rawalpindi, Sindh Agriculture University Tandojam, University of Poonch, Rawalakot, AJK, Islamia University of Bahawalpur, Department of Agriculture
Published 01 Jan, 2020 12:00am
On the eve of New Year: security put on high alert in Capital

On the eve of New Year: security put on high alert in Capital

Islamabad police placed security on high alert on the eve of New Year in order to avert any untoward incident and maintain peace and tranquility in the city. The Islamabad Capital Territory (ICT) administration imposed section 144 in the city for two days
Published 01 Jan, 2020 12:00am
KBP plans protest against closure of sugar mills

KBP plans protest against closure of sugar mills

The Kissan Board Pakistan (KBP) has announced to protest against closure of sugar mills saying it has posed serious threats to farmers and sugarcane crop as well. The KBP alleged that the sugar mills mafia is not interested in buying cane on government ra
Published 01 Jan, 2020 12:00am
Buzdar boasts of doing record legislation in short span

Buzdar boasts of doing record legislation in short span

Chief Minister Punjab Sardar Usman Buzdar on Tuesday said the Punjab Assembly has made record legislation in a short span of time while the government is committed to serve the masses wholeheartedly. Talking to different MPAs, here on Tuesday, the CM said
Published 01 Jan, 2020 12:00am
MAGIC Show in US: PRGMEA concerned at discontinuation of Pakistan Pavilion
Cotton & Textile

MAGIC Show in US: PRGMEA concerned at discontinuation of Pakistan Pavilion

The Pakistan Readymade Garments Manufacturers and Exporters Association, expressing its serious concern over the discontinuation of Pakistan Pavilion at MAGIC Show in the United States, has asked the Trade Development Authority of Pakistan to continue its
Published 01 Jan, 2020 12:00am
LCCI condemns Indian aggression at LoC

LCCI condemns Indian aggression at LoC

The Lahore Chamber of Commerce and Industry has strongly condemned Indian aggression on the Line of Control (LoC) and urged the government to take up the issue with the international community.
Published 01 Jan, 2020 12:00am
Regional peace not possible without IoK's freedom: Sarwar

Regional peace not possible without IoK's freedom: Sarwar

Punjab Governor Chaudhry Mohammad Sarwar on Tuesday said the dream of regional peace cannot come true without freedom of occupied Kashmir. "In Shaallah, the year 2020 will prove to be year of development, peace, stability and prosperity for Pakistan; the
Published 01 Jan, 2020 12:00am
UBL wins PSX's 'Top Companies of the Year' Award
Money & Banking

UBL wins PSX's 'Top Companies of the Year' Award

UBL has become the only bank to win the Pakistan Stock Exchange (PSX) "Top Companies of the Year" Award for three consecutive years (2016-18). The awards for the three years, were presented at a ceremony held in Karachi recently. Prime Minister Imran Khan
Published 01 Jan, 2020 12:00am
'Furniture city' to be set up in Faisalabad: minister

'Furniture city' to be set up in Faisalabad: minister

Provincial Minister for Trade & Industries Mian Aslam Iqbal said that Furniture City in being set up on an area of 200 acres in Faisalabad Industrial Estate. The Minister stated this while speaking to the furniture makers' delegation that called on him he
Published 01 Jan, 2020 12:00am
SNGPL restores gas supply to industry
Energy

SNGPL restores gas supply to industry

Sui Northern Gas Pipe Lines Limited (SNGPL) on Tuesday restored the gas supply to the general industry despite severe winter. According to the spokesperson of SNGPL the company had successfully mitigated the gas crisis. Currently, domestic sector consumpt
Published 01 Jan, 2020 12:00am
Fatima Group signs MoU with Telenor Microfinance Bank
Money & Banking

Fatima Group signs MoU with Telenor Microfinance Bank

Fatima Group signed a strategic MoU with Telenor Microfinance Bank to promote financial inclusion amongst local farmers in Pakistan. The MoU was recently signed between Ali Mukhtar, Director at Fatima Group and Khurram Malik, Head of Easypaisa at Telenor
Published 01 Jan, 2020 12:00am
POS system applicable to all big retail outlets: FBR
Taxes

POS system applicable to all big retail outlets: FBR

The Federal Board of Revenue (FBR) has clarified that Point of Sale (POS) system is applicable to all the big retail outlets of big cities including Islamabad, Lahore and Karachi. The FBR in its clarification has stated that POS system is applicable to al
Published 01 Jan, 2020 12:00am
Special PIA flight to bring back 113 illegal immigrants from Malaysia

Special PIA flight to bring back 113 illegal immigrants from Malaysia

A special flight of Pakistan International Airlines (PIA) will bring back 113 illegal Pakistani immigrants from Malaysia as part of the country's voluntary repatriation amnesty scheme. Foreign Office said in a statement that on the directives of the gover
Published 01 Jan, 2020 12:00am
Senate, NA to meet today

Senate, NA to meet today

After an unprecedented hiatus of almost four months, the Senate would meet in its regular session today (Wednesday) as President Arif Alvi on Tuesday summoned the Upper House of the Parliament's meeting. The President has also summoned National Assembly's
Published 01 Jan, 2020 12:00am
Taiwan passes law against China influence ahead of vote

Taiwan passes law against China influence ahead of vote

Taiwan passed a controversial bill Tuesday aimed at countering China's influence on the self-ruled island, less than two weeks before it goes to the polls to elect a new president. The "anti-infiltration bill" pushed by President Tsai Ing-wen's Beijing-sc
Published 01 Jan, 2020 12:00am
German opera great Harry Kupfer dies

German opera great Harry Kupfer dies

One of the world's most celebrated opera directors, Germany's Harry Kupfer, has died at the age of 84 in Berlin, his agency confirmed on Tuesday. In a career spanning 44 years, Kupfer worked at opera houses across Germany and was chief director of Berlin'
Published 01 Jan, 2020 12:00am
Bangladesh shuts mobile network along India border

Bangladesh shuts mobile network along India border

Bangladesh has cut services to millions of mobile phones along its border with India for "security" reasons amid fears a new citizenship law passed by its giant neighbour could prompt an influx of migrants.
Published 01 Jan, 2020 12:00am
'Blade Runner' artist Syd Mead dies

'Blade Runner' artist Syd Mead dies

Syd Mead, the visual artist behind "Blade Runner" credited with shaping the sci-fi landscape with his futuristic movie designs, has died in California aged 86.
Published 01 Jan, 2020 12:00am
North Korea's Kim calls for 'military countermeasures'

North Korea's Kim calls for 'military countermeasures'

North Korean leader Kim Jong Un has called for "diplomatic and military countermeasures", state media said Tuesday, ahead of a year-end deadline for Washington to change its stance on stalled nuclear talks with Pyongyang.
Published 01 Jan, 2020 12:00am
Syria death toll for 2019 lowest in civil war: monitor

Syria death toll for 2019 lowest in civil war: monitor

Syria's nearly nine-year-old conflict which has cost more than 370,000 lives recorded its lowest annual death toll in 2019, a war monitor said Tuesday. A total of 11,215 fighters and civilians were killed in the past year, the Syrian Observatory for Human
Published 01 Jan, 2020 12:00am
PMEX daily trading report

PMEX daily trading report

On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,437. The traded value of Metals, Energy and COTS/FX was recorded at PKR 2.994 billion and the number of lots traded was 3,904.
Published 01 Jan, 2020 12:00am
US natural gas futures fall on warmer weather
Energy

US natural gas futures fall on warmer weather

US natural gas futures slid 2% on Monday as forecasts kept calling for mild temperatures that will dent heating demand. On its first day as the front month, gas futures for February delivery on the New York Mercantile Exchange were down 4.5 cents, or 2%,
Published 01 Jan, 2020 12:00am
CBOT corn futures fall
Commodities

CBOT corn futures fall

Chicago Board of Trade corn futures ended lower on profit-taking on Monday after rising to a two-month high, traders said. Most-active corn futures touched their highest price since Oct. 22 before pulling back. Traders are hoping Washington and Beijing wi
Published 01 Jan, 2020 12:00am
Activities of Karachi Port

Activities of Karachi Port

The Karachi Port handled 73,017 tonnes of cargo comprising 46,951 tonnes of import cargo and 26,066 tonnes of export cargo including 3,098 loaded and empty containers during the last 24 hours ending at 0700 hours on Tuesday.
Published 01 Jan, 2020 12:00am
EU wheat little changed after six-month high
Commodities

EU wheat little changed after six-month high

Euronext wheat ended little changed on Monday, consolidating after an earlier six-month high as a rally fuelled by export prospects ran into technical resistance. March milling wheat, the most active contract on the Paris-based exchange, settled unchanged
Published 01 Jan, 2020 12:00am
Ivory Coast cocoa crop boosted by mild Harmattan
Commodities

Ivory Coast cocoa crop boosted by mild Harmattan

There was no rain last week in most of Ivory Coast's cocoa-growing regions, but late and mild Harmattan winds this year have boosted expectations of strong harvests during the first two months of 2020, farmers said on Monday. Ivory Coast, the world's top
Published 01 Jan, 2020 12:00am
Asia's naphtha dives to 1-1/2-week low
Energy

Asia's naphtha dives to 1-1/2-week low

Asia's naphtha crack slumped 14.5% to a one-and-a-half week low of $83.90 a tonne on Monday, dragged down by muted trades amid the year-end holidays and the recent dreadful petrochemical margins. Although premiums for Indian cargoes scheduled for January
Published 01 Jan, 2020 12:00am
Cotton market ends 2019 on steady tone
Cotton & Textile

Cotton market ends 2019 on steady tone

Cotton market closed the final session of 2019 on happy note due to renewed buying by mills, dealers said on Tuesday. The official spot rate was unchanged Rs 8900, they added. In ready session, 3600 bales changed hands between Rs 8000-9100, they said.
Published 01 Jan, 2020 12:00am
China's iron ore flat in sluggish year-end holiday trade
Commodities

China's iron ore flat in sluggish year-end holiday trade

Benchmark Dalian iron ore futures pulled back from a two-week high to finish flat after sluggish trade on Monday as the year-end holiday season prompted market participants to remain on the sidelines. The Dalian Commodity Exchange's most-traded iron ore c
Published 01 Jan, 2020 12:00am
Mexican peso rises, to end year up 4 percent
Money & Banking

Mexican peso rises, to end year up 4 percent

Mexico's peso firmed in its last trading day for the year on Tuesday as increasing investor confidence about global growth prospects and significantly better US-China trade relations sent the dollar to six-month lows on fading safe-haven buying. An index
Published 01 Jan, 2020 12:00am
Dollar dips against yen in Asia
Money & Banking

Dollar dips against yen in Asia

The dollar dipped to a near three-week low against the yen in thin year-end volume on Tuesday as investors favoured riskier assets, led by renewed optimism about global growth. The greenback was off 0.2% at 108.64 against the Japanese yen, the weakest sin
Published 01 Jan, 2020 12:00am
Euro gains, sterling shines in Europe
Money & Banking

Euro gains, sterling shines in Europe

The euro, the pound and a clutch of trade-sensitive currencies rallied as the dollar slid to a six-month low on Tuesday, with investors confident that global growth prospects are improving and US-China trade relations significantly better. After staying s
Published 01 Jan, 2020 12:00am
Asian forex: Most units set to end 2019 on firm note
Money & Banking

Asian forex: Most units set to end 2019 on firm note

Most Asian currencies were set to end the year on a firm note, with the Taiwan dollar leading gains on Tuesday, as investors cheered fresh developments on the Sino-US trade deal front and upbeat factory activity data from China. The White House's trade ad
Published 01 Jan, 2020 12:00am
Dollar falls in thin trade in New York
Money & Banking

Dollar falls in thin trade in New York

Thin end-of-year volume on Monday exacerbated weakness in the US dollar, which dipped for its third straight session as investors favored riskier assets. The dollar index, which measures the currency against a basket of rivals, weakened 0.18% to 96.743 in
Published 01 Jan, 2020 12:00am
Aussie, kiwi see out lethargic 2019 with late comeback
Money & Banking

Aussie, kiwi see out lethargic 2019 with late comeback

The Australian and New Zealand dollars hit five-month highs on Tuesday, looking to end a lacklustre year on a brighter note as the stars align for a stronger world economy in 2020. The Aussie stood at $0.7005, almost back to where it began the year. That
Published 01 Jan, 2020 12:00am
Sharapova accepts Brisbane wildcard
Other

Sharapova accepts Brisbane wildcard

Former world number one Maria Sharapova said Tuesday she still had "a lot of fire" as she attempts to resurrect her career after an injury-plagued 2019. The five-time major winner will open her 2020 campaign in Brisbane after being awarded a wildcard by o
Published 01 Jan, 2020 12:00am
Pakistan women's cricket in 2019 continues to evolve
Cricket

Pakistan women's cricket in 2019 continues to evolve

Women's cricket in Pakistan continued to evolve in 2019, as the women's team reached new heights and the Pakistan Cricket Board (PCB) undertook major initiatives to promote the game amongst young potential cricketers.
Published 01 Jan, 2020 12:00am
Benfica sign Dortmund midfielder Weigl
Football

Benfica sign Dortmund midfielder Weigl

Borussia Dortmund and Germany midfielder Julian Weigl will join Portuguese champions Benfica in the January transfer window, the Bundesliga club said on Tuesday.
Published 01 Jan, 2020 12:00am
England ready to support scrapping five-day Tests
Cricket

England ready to support scrapping five-day Tests

Five-day Test matches could become a thing of the past from 2023 after England supported calls to cut them by a day, according to Tuesday's Daily Telegraph. A spokesperson for the England and Wales Cricket Board (ECB) told the British newspaper that four-
Published 01 Jan, 2020 12:00am
Year 2019: a prolific time for Babar Azam
Cricket

Year 2019: a prolific time for Babar Azam

The year 2019 was a prolific one for batting sensation Babar Azam, as he stamped his authority on the international circuit across the three formats with some scintillating display of stroke-play that left the fans in awe across the cricketing world.
Published 01 Jan, 2020 12:00am
Three matches decided in Diamond Paints Polo Cup
Other

Three matches decided in Diamond Paints Polo Cup

Diamond Paints, FG Polo Team and AOS Polo Team won the opening day matches of the Diamond Paints Polo Cup for the Champions Trophy 2020 played here at the Lahore Polo Club ground on Tuesday.
Published 01 Jan, 2020 12:00am
Objectives successfully met, will bring reliability: PCB
Cricket

Objectives successfully met, will bring reliability: PCB

Year 2019 will be remembered as a landmark year in Pakistan's cricketing history, as it ended with the country taking a major stride in ensuring full resumption of international cricket in Pakistan as Sri Lanka played two Tests in Rawalpindi and Karachi i
Published 01 Jan, 2020 12:00am